Author: Kryptonews

Key Takeaways BDACS has launched KRW1, the first Korean won-backed stablecoin on the Avalanche blockchain. KRW1 is fully backed by Korean won reserves held at Woori Bank. Share this article South Korea’s BDACS launched KRW1, the first Korean won-backed stablecoin on the Avalanche blockchain. The digital asset is fully collateralized with Korean won held at Woori Bank.The launch follows successful proof of concept validation, marking one of the first stablecoins pegged to South Korea’s national currency to operate on a major blockchain network. Share this article

MoneyGram’s digital payments app is set to launch in Colombia, offering locals a way to save in US dollar stablecoins as the Colombian peso continues to weaken.MoneyGram’s crypto service is powered by the Stellar network and leverages Crossmint for self-custody, enabling users to store the USDC (USDC) stablecoin and transfer it overseas nearly instantly. In a statement on Wednesday, MoneyGram said Colombia is the “ideal launch market” as Colombian families receive more than 22 times the money they send abroad.“For millions of people around the world, sending money across borders is a lifeline: supporting loved ones back home, covering essentials like…

Editor’s Note: This story originally appeared in On Balance, the ARTnews newsletter about the art market and beyond. Sign up here to receive it every Wednesday. Happy Wednesday! A round-up of who’s moving and shaking in the art trade this week: Marian Goodman Gallery Takes on Edith Dekyndt: Dekyndt has a multidisciplinary practice that explores time, light, and space through minimalist video, sculpture, installation, and performance. The gallery will debut her work at Art Basel Paris in October. Salon 94 to Represent Raven Halfmoon: Known for monumental clay and stoneware figures that fuse traditional coil-building with bold glazes and inscribed text, Halfmoon (Caddo Nation) has work in the…

Ethereum co-founder Vitalik Buterin has finally addressed some concerns over the lengthening Ethereum staking exit queue, which has now grown to 45 days. His response came after Galaxy Digital’s head of DeFi, Michael Marcantonio, called the exit queue length “troubling” on X and compared it to Solana, which only requires two days to unstake. He has since deleted the posts. “Unclear how a network that takes 45 days to return assets can serve as a suitable candidate to power the next era of global capital markets.”Deleted post from Galaxy Digital’s DeFi head. Source: Etc.However, Buterin seemingly took a more ideological stance on…

Key Takeaways:American Bitcoin (ABTC) surged nearly 85% on its Nasdaq debut, briefly reaching a $5B valuation.The Trump family, alongside Hut 8 Mining, controls 98% of the newly merged crypto-mining entity.Eric Trump called Bitcoin “modern-day gold,” predicting it could reach $1 million per coin.American Bitcoin, a fast-rising crypto mining firm with strong political and institutional backing, has officially entered Wall Street. After merging with Gryphon Digital Mining, the company made its Nasdaq debut under the ticker ABTC, instantly drawing global attention to both its stock performance and its bold vision for Bitcoin’s future.Read More: Trump-Backed Crypto Firm Eyes Asia for Bold…

Cardano founder Charles Hoskinson has reported tremendous progress in Washington after attending a high-level CLARITY Act roundtable meeting this week. The session was one of the starkest attempts yet to get lawmakers and the crypto industry in the same room to hammer out explicit, bipartisan rules for digital assets in the United States. Hoskinson congratulated Ripple’s representatives, XRP supporters, and venture capital firm Andreessen Horowitz (a16z) for their contributions in policy negotiations. He noted that Cardano was in full force at the conference and stressed that these conversations were productive and cooperative. Hoskinson said the meeting was fruitful, adding that…

Ethereum (ETH) has been consolidating between $4,200 and $4,700 after setting an all-time high last August. While many investors anticipate a strong fourth quarter, Citigroup has issued a tempered outlook, projecting ETH to close the year at $4,300. Related Reading According to a Reuters report, Citi attributes Ethereum’s demand to the growing adoption of tokenization and stablecoins. However, the bank cautions that much of ETH’s recent price action may be fueled by market sentiment rather than fundamentals. The note highlighted, “Current prices are above activity estimates, potentially driven by buying pressure and excitement over use-cases.” ETH’s price trends to the…

Good Morning, Asia. Here’s what’s making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.Robinhood got all kinds of attention earlier this year when it claimed to be able to offer its retail users exposure to OpenAI’s growth story via tokenized shares backed by a special purpose vehicle.Counsel for OpenAI, has warned that these tokens do not constitute equity and claimed that the whole thing is unauthorized, which could potentially mean it…

CZ Binance has thrown his weight behind a new decentralized exchange, Aster, which is already making waves in the market.Backed by CZ-affiliated YZi Labs (formerly Binance Labs), BNB Chain’s leading DEX PancakeSwap, and other major players, Aster positions itself as a multi-chain perpetual and spot venue designed to compete directly with Hyperliquid.Within six hours of going live, Aster’s token ($ASTER) reached over $300 million market cap, after rising from a launch price of $0.08 to a high of $0.2181, delivering investors over 130% gains on its debut.Source: CoinMarketCapCZ Binance Backing Fuels Aster Multi-Chain DEX Launch FrenzyThe platform reported rapid user…

Korea Exchange’s IT infrastructure providing affiliate KOSCOM has applied for five stablecoin-related trademarks, in addition to reorganizing its crypto and digital assets departments.The South Korean media outlet Seoul Finance reported that the firm has registered trademarks for the KSDC, KRW24, KRW365, KOSWON, and KORWON brands.The outlet wrote that KOSCOM wants to “proactively respond” to the imminent launch of the KRW stablecoin market in South Korea.KOSCOM Stablecoin Plans ‘in Full Swing’KOSCOM (officially the Korea Securities Computing Corporation) provides comprehensive tech solutions and trading platforms to the South Korea’s financial securities and futures markets.The headquarters of KOSCOM in Seoul, South Korea. (Source:…